Why do you need to verify my ID? - Truly Financial

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Why do you need to verify my ID?

We need to verify your ID to ensure that there is a real person behind each account we open, and to prove that they are who they claim to be. This prevents someone from operating on your behalf without authorization or impersonating you to commit fraud.

At Truly Financial, we incorporate biometric technology to verify in real-time who is the person opening an account. We also use advanced document verification technology, so you don’t have to physically visit a branch or provide paper documentation.

Verifying the identity of a customer and the major stakeholders is a Government-mandated requirement and helps us to deliver our business banking services to legitimate business owners and users.

ID verification is required for the following types of users:

  • The authorized person who will is setting up the account
  • Any Team Member who is issued the SmartSpend corporate Visa card
  • Your Accountant or any other user to whom you provide access to send payments, use SmartSpend, etc.